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Indiana Casino Workers Challenge Pinnacle Entertainment Casino Sale

By |janvier 16th, 2020|

Indiana Casino Workers Challenge Pinnacle Entertainment Casino Sale

An branch that is indiana-based of casino employees union is opposing the proposed sale of gambling venues owned by Pinnacle Entertainment Inc. to Gaming & Leisure Properties Inc. The casino employees may also be planning to ask the Indiana Gaming Commission to turn straight down the master plan, arguing that the deal may possibly provide the operator more rights than state guidelines actually enable.

A given operator is allowed to own no more than two casino properties within the state’s borders under the current Indiana gaming laws. Gaming & Leisure manages one video gaming center in Lawrenceburg and Pinnacle has two such facilities in Florence and East Chicago.

Las Vegas-headquartered gambling operator Pinnacle announced previously this plans to sell all 14 casinos it manages to Gaming & Leisure year. The latter is always to spend the total amount of $4.8 billion for the deal. Generally speaking, the offer is those types of when a provided gambling operator offers its venues or converts them into REIT, to prevent having to pay federal income taxes and therefore, trade the said venues at a stock market value that is higher.

The Indiana Gaming Commission is defined to talk about the problem today at 1 pm local time. a spokesperson for the state gambling regulator could never be reached for remark.

Casino employees through the UNITE HERE hospitality employees union have been in a dispute that is long-standing Pinnacle’s casino in East Chicago. […]